"In addition to the amount withheld from its employees for Social Security taxes, the employer must contribute/remit an additional amount, which is an expense for the employer.

In the year 2012, the employer's portion of the Social Security tax is 6.2% of the first $110,100 of an employee's annual wages and salary.

For example, if an employee earns $40,000 of wages, the entire $40,000 is subject to the Social Security tax. This means that in addition to the withholding of $1,680, the employer must also pay $2,480.The combined amount to be remitted to the federal government for this one employee is $4,160 ($1,680 of withholding plus the employer's portion of $2,480)."

"In addition to the amount withheld from its employees for Social Security taxes, the employer must contribute/remit an additional amount, which is an expense for the employer.

In the year 2012, the employer's portion of the Social Security tax is 6.2% of the first $110,100 of an employee's annual wages and salary.

For example, if an employee earns $40,000 of wages, the entire $40,000 is subject to the Social Security tax. This means that in addition to the withholding of $1,680, the employer must also pay $2,480.The combined amount to be remitted to the federal government for this one employee is $4,160 ($1,680 of withholding plus the employer's portion of $2,480)."

THANK YOU! I HAVE tried to explain to these idiots that all those so called "payroll taxes" that the idiots claim employees pay... ARE RETURNED in the form of retirement checks from SS and health benefits from medicare! Which UNLIKE INCOME taxes are returned and THEN some!
With average 65 living till 80 now that 15 years at $18,000 a year or over $270,000 paid out.
Subtracting 6.2% employee paid in over 40 years on say average $40,000 that is almost $100,000 paid in by the employee WHO gets back in 15 years over double what was paid in!
PLUS free Medicare!
But these idiot Obama supporters HAVE NO clue!

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